starbucks howard schultz is going to hold a conversation with america next tuesday. >> what did you learn, mika? >> if denny's is going to do that, i'm going to bring up the shady maple thing from lancaster county. this is what's wrong with your america. if you have had gastric by pass surgery, you go into this massive football-sized buffet and people go in there and just eat, eat, eat, eat. >> you get 50% off if you've had your stomach stapled. what is wrong with this country? >> it's just -- >> good luck -- >> it starts this week. big roll tide. if it's "way too early," it's "morning joe." stick around, "the daily rundown" starts with a man from the fix i think, right? take it away, chris.

screeching halt. the economy added no new jobs in august while the unemployment rate stays stuck at 9.1%. how close are we to a double dch dip recession. our guest this morning, top economic adviser to the president, gene sperling. will she or won't she? sarah palin's labor day weekend will be spent in ohio and new hampshire. will she finally jump in the race? michele bachmann evokes margaret thatcher, the latest historical nod by the congresswoman. it's friday, september 2nd, 2011, and this is the "the daily rundown." i'm chris cillizza in for chuck todd this morning. the markets were bracing for bad news on the jobs front. it turned out to be even worse than expected. zero new jobs added in nongtd of august. it's the first time that's happened since september 1945. the unemployment number remains stuck at 9.1% for the second

month in a row. mark zandi is chief economist of moody's analytics. what can you tell us about these numbers? >> well, the economy is stalling out. i think the debt ceiling spectacle in washington, the s&p downgrade really damaged what was already pretty vag ill confidence and businesses just froze. they haven't started increasing their lay-offs yet. that would be a recession. they stopped hiring. so we're right on the edge. we're very, very close to double dipping. >> mark, the obama administration often says -- points to private sector growth, the private sector is still hiring. but it only added 17,000 jobs offset by government jobs being cut. is that enough pry spratt sector growth that the obama administration can take a silver lining out of what certainly looks like a dark economic cloud? >> no. that certainly -- even that is incredibly disappointing. just one other technical note. verizon workers were on strike

and that cost the economy 45,000 jobs. so you add that in, private sector job creation was probably closer to 50k. that's very disconcerting. we need to create somewhere between 10 and 150k per month just to maintain a stable rate of unemployment. something closer to 200k plus per month to bring down unemployment. we are a long way from anything anyone would be comfortable with. >> mark, i know it mibl hard to find in these numbers, is there a silver lining? we've had 30 minutes to look through them so this is a first cut. is there something if you're the obama administration, that you've got a talking point this friday or not? >> well, the key thing here is businesses aren't laying off workers -- they're laying off workers but not at an accelerated race. they're not doing that yet. they just simply stopped in their tracks. if policymakers including the administration, congress, the federal reserve can act

aggressively here and shore up confidence, then we'll get through this. the economy will find its footing. they have to work fast and be much more graceful in how they do this. if we go through another spectacle like we did last month, we'll be in recession. >> mark, define fast. i know these economic trend lines, they can -- fast can be a long time. in politics, obviously the president is looking at a november 2012 schedule. what is quick in terms of congress or the fed acting, from here in washington it seems unlikely congress acts in a positive way. what's fast and what's possible? >> next couple, three months, the federal reserve can move quickly. the fomc meets at the end of september, in just three weeks. i suspect given this data they are going to provide more support to the economy, they'll ease monetary policy again. and then congress needs to follow -- and the administration need to follow through on the

debt ceiling deal. they have to report out in a reasonable way by the end of november. as part of the process, they need to take away the fiscal restraint. obviously they need to extend the payroll tax holiday and even think about extending emergency unemployment benefits for another year. if they do those things and do that over the next couple, three months, that would be helpful. >> mark, quickly, super committee deadlocks doesn't come up with anything. how bad is that for the jobs market and the economy? >> i think it's very bad. i don't think we can digest that. i think confidence is already on the edge. >> mark zandi, i know you're a busy man this morning. thanks for making time for us. >> thank you. joining me is nbc's deputy political director mark murray. we've heard the economic point of view. let's talk about the politics. zero jobs added. when i heard it, i thought holy cow this is not going to be a good day for the president on what's already been that bad

month. how do they sell this? >> they have to take their lumps and move on. when i saw these numbers, i said ouch. >> a collective ouch is what most people said. >> we've seen all the republicans pile on. mitt romney put out a statement saying it's time to change presidents. >> it came out at 8:30. by 8:35 every presidential candidate sounded off. >> as mark zandi talked about, this is a debt ceiling fight. in a way everyone has some blame here. republicans talked about the need for economic sternity. one of the reasons august was so bad, there was so much uncertainty whether the debt ceiling was going to be raised. >> uncertainty in everything. these numbers, i keep coming back. congress had record low approvals. the president, zero jobs created. it just feels bleak out there. >> if you're a politician, what do you do?

resaw mitt romney in a speech earlier said we could be on the verge of economic disaster, people generally want to hear more positivity. how do you mix those two things given what is clearly a bleak outlook right now? >> it's hard. if you're a politician you have to take your lumps, move ahead, have a message that things are going to get better and hope things are going to get better. >> you've got to talk like things are going to get better and hope the talk means something. let's move on. we're in september, but it's prelabor day. we know labor day, official kickoff of the campaign season. man, is that true. we've got an incredibly busy september. i want to touch on a few things. september 3rd, tomorrow, sarah palin in iowa, much debated speech. mitt romney has a tea party rally. the next day jim demint's forum in south carolina. the fifth, mitt romney unveils his jobs plan. the 6th. and by the 7th, nbc politico debate. the 8th president obama's jobs bill. that's an incredibly busy five

days. what does it tell us? >> a busy five days in one week. chris, even after that we end up having the tenth anniversary of 9/11. >> didn't even mention that. huge moment. >> john boehner will give his own speech. it is going to be a crazy and busy, significant september for all of us. the big thing for political reporters like us, people heading out to the nbc politico debate, we better get our sleep now, this weekend, catch up, baultz what is going to happen in the next 30 days is going to be incredibly significant. going back to the jobs numbers, it's a way where the story does move on. you have to be able to survive when you get bad news. >> the other thing, the politico-nbc debate kicks off five debates next week. three debates in 17 days. we talked about rick perry, real proving ground here. let's talk about a candidate who has not, parenthesis, yet in the race, sarah palin. i mentioned she's going to be in iowa tomorrow. she's going to be in new hampshire, just a coincidence

that mitt romney will also be there on monday. what is going on? does this mean anything? if we're talking about this before and i said a candidate is going in iowa or new hampshire, we'd say that candidate is run sglg we have no idea what she's going to do. she has three options. one, she inches closer to a presidential bid, testing the waters committee. i'm making the move where i'll run for president. she ends that speculation saying i'm going to endorse someone today. i decided i can't do it, but so and so could. the third option is the status quo, she keeps putting her toe in. >> enough hinting. >> the danger for the status quo is at some point people are going to tune out. for her to have an impact on the 2012 race, it's either option one, you get in or option two you don't. >> imagine we're still talking about whether she's in or out, labor day is monday. flbs deputy political editor

mark murray and one of the authors of one of my favorite things in the morning, "morning first read," thank you for doing it and thanks for coming on. the pressure is on ahead of president obama's big jobs speech next week amid new fears we're headed for a double dip recession. up next, after a sluggish summer what does this dismal news mean for americans? still to come, michele bachmann's history of talking about history. first, a look ahead at the president's schedule. headed out to cam david, him and the rest of washington, d.c. headed on vacation. you're watching "the daily rundown" only on msnbc. uld saveh geico's multi-policy discount. geico, saving people money on more than just car insurance. ♪

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more bleak news on the economy this morning. as we just reported, the labor department says zero net jobs were added last month, the first time that's happened in more than 60 years. unemployment remains at a sturdy 9.1%. it's been hovering around that level for the last two years. greg ipp is the editor -- is the editor at the economist and also author of the book "the little book of economics" and jim tankersly. jim, let's start with you. what do we take from these numbers? the layman's reading is they're obviously not good for the president. dufz it go beyond that? >> in some ways this is the most predictable bad jobs report we've efr seen. think about it, why would you have created a job in august if you were an employer? what was going on? we had the debt ceiling debacle, the stock market bouncing up and down and huge concerns about

what was going on in europe. yeah, this is bad for the president but bad in general for the entire economy. >> greg, did we know it was going to be -- i don't want to say this bad, but did we know it was going to be this number. i don't think anybody expected 300,000 jobs projected, but were we expecting zero? >> if you delve into numbers, there are interesting stories. if you take out government, you would have a very modest increase in private payrolls. the story in the last four or five months has been that government has been the source of all the weakness, mostly state and local. private employers are hiring. >> what does that tell us? private industry is still hiring. what should that tell us. >> it should tell you that's we're probably not in recession mode from the point of view of businesses. and the government, especially because of the cutbacks continues to be a huge drag on the economy. the other thing is that we know there are at least 45,000 jobs

lost because of the verizon strike. they're now back on the job. >> it may be a little artificially low? >> correct. >> the other thing is tun employment rate did hold steady. when you measure employment through a completely different survey, you find the number of people went up. the economy is growing. >> six days away from the president's big much ballyhooed one-day-delayed jobs speech. what can he say or do? obviously this is the context, this is the backdrop. what can he say or dorks are there things he can say or do that can say, okay, zero is not good obviously but i have a plan to get us to 10,000, 150,000. >> if the president's goal is to win the politics, it's a different goal than if he's trying to sell something that might pass. the first thing he has to do is he must convince the american people through this speech and through repeated attention afterwards that he cares about

this and will literally make this the number one priority for his administration every day going forward. >> the empathy thing matters more for the politics than the policy or no? >> for the policy, the important thing is he needs to pick points and sell them, sell them, sell them, sell them. on policy, if he wants something that might pass, he might try to get away from this by their debate over job creation and size of government which leaves open a couple areas. the biggest one could be the housing market. if they can do something to help the housing market which is not a do we cut spending or grow spending debate, they could help the job market recover. >> the president hasn't said this is what i'm planning to say. it doesn't feel at least in the early indications that housing is going to be a big part of the plan. to jim's point, is that a mistake because that is a place

where there could be growth? >> treasury has spent a lot of time in the last month saying is there some way they can get fannie mae and fannie mac to do more, to refinance people who aren't benefitting from the very low mortgage rates. they keep running up against a problem that it all runs through the federal regulator, the federal housing finance agency which doesn't take orders from the treasury. >> awe, government. >> there might be a few little things they can do around the margin, but not really big things. >> i wonder the politics of this, is it dangerous for people, people are so concerned, we saw the foreclosure crisis, when it feels like you're doing anything around housing. is that part of it, jim. >> the point is that the housing market -- someone has to help it find its floor here. you could do some things -- >> still hasn't found its floor? >> it doesn't appear to. i think that's going to be the problem going forward. you make that case, look, we need to help stabilize your wealth, you, america, because if we can't do that, you're not going to spend money. if you're not spending money, we

won't recover. >> greg and jim, thank you for your wisdom. >> thank you. this sunday on nbc's "meet the press" david gregory will moderate a discussion on the politics of economy and what is holding america back. still to come on "the daily rundown," mitt romney responded to the dismal jobs report just moments ago. >> we stand near a threshold of profound economic misery as a nation. four more years of the same extremely misguided policies could be disastrous. >> we'll have more of the reactions from the campaign trail coming up. up next, taking a page out of history. michele bachmann is wooing tea party crowds all across the country with stories of america's greatness. we'll tell you why her latest historic comparison is raising a few eyebrows. first, today's trivia

question. which u.s. president once owned a hab dashry? the first correct answer will get a follow friday from us. the answer and plenty more coming up on "the daily rundown." i'm good about washing my face. but sometimes i wonder... what's left behind? [ female announcer ] new purifying facial cleanser from neutrogena naturals. removes 99% of dirt and toxins without dyes, parabens, or harsh sulfates. so skin feels pure and healthy. [ female announcer ] new from neutrogena naturals. and i was a pack-a-day smoker for 25 years. i do remember sitting down with my boys, and i'm like, "oh, promise mommy you'll never ever pick up a cigarette." i had to quit. ♪

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major wow factor! where you book matters. expedia. fresher less processed foods introducing freshpet recipes so fresh the only preservative we use is the fridge freshpet fresh food for fido once again, michele bachmann is citing a page from the history books. speaking to a veteran's group she's vocced british conservative leader margaret thatcher. we're picking up a lot of history along the way traveling with the bachmann campaign. >> the minnesota congresswoman certainly has a pension for the past. the tea party loves to trumpet itself as the real cure raters

of american history, their tri corner hats, flags, their very name evokes america's proud past. it's a sentiment not lost on congresswoman michele bachmann. >> it's amazetion how quickly an empire can fall. >> reporter: she weaves enough history in her speeches to -- >> there she was last weekend uses a world war ii anecdote to talk about a battle over today's debt. >> britain had to keep paying off their bills until december of 2006. >> reporter: it's having the effect she wants even if some of her facts have raised eyebrows, like in new hampshire when she brought up the shock that started the revolutionary war. >> you're the state where the shot was heard around the world at lexington and concord. >> reporter: you don't have to be a history teacher to know that lexington and concord are in massachusetts.

or when she said the founding fathers, quote, worked tirelessly until slavery was no more. and then when challenged to name one. >> if you look at one of our founding fathers, john quincy add damsz, that's absolutely true. >> reporter: was he a founding father? when the declaration of independence was signed, john quincy adams was only nine years old. bachmann may not have much to say about the democratic party today, but when asked to name her favorite presidents, she explained why harry truman, a democrat, is on her list. >> i would never call on israel to withdraw to its indefensible 1967 borders. i would do what every american president has done until this president -- >> reporter: correct or

incorrect? her fans say bachmann's values are what counts. >> you've got to have your core principles grounded somewhere and stand on those principles. >> reporter: and her values run deep. >> what's powerful about a message like michele bachmann's isn't the particulars of history and exactly the role that john quincy add damsz played or when he was a figure in american history, it's the general theme, the image of a more traditional america that conservatives have really idealized. >> chris, bachmann acknowledged the mistake about lexington and concord back in march on her facebook page aid said new hampshire should be proud of the role it played nearby massachusetts in the revolutionary war. >> jamie, she talks about a lot of history. the majority of it she gets right. i want to ask you something though. is she a history buff? is this a bow to the tea party and their desire to go back to the founding fathers? what explains why she talks history so much?

>> i think it's a little bit of both, chris. she tried to point out she does know her history. there was an interesting moment back in july at the national press club where she talked about how much she loves ipads but how much she feels attached to the written word. she says she has a love affair with the written word. her husband knows she's always writing notes in the margins of her books which she can't do on an ipad. she talked about david mccullough's biography of truman which she admires. she admires truman heifer self. she's somebody who loves to read history reports. >> jamie, thanks for the report. >> thank you. still to come on "the daily rundown," sarah palin will spend labor day weekends at tea party events in iowa and new hampshire. is she getting ready for a campaign kickoff or did she wait too long to get in the race. louisiana is on alert as a new storm gains strength in the gulf of mexico. don't forget, the nbc news politico republican debate at

the reagan library is next week, five days away, it's wednesday september 7th at :00 eastern here on msnbc, the place for politics. (announcer) everything you need to stay balanced on long trips. residence inn.

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welcome back to "the daily rundown." i'm chris cillizza in for chuck todd. more rain in vermont complicated efforts to bring the massive flooding under control. meanwhile in new jersey floodwaters have begun to slowly recede ahead of sunday's visit by president obama. states along the gulf of mexico are preparing for storm troubles of their own, a tropical depression that is expected to form into tropical storm lee is expected to drop over a foot of

rain in some areas this weekend. the opening bell has running on wall street. investors wait to see what the markets will do today after the odd jobs report sa showed zero net jobs gained during the entire month of august. other stories making headlines. the federal government is preparing to sue more than a dozen big u.s. banks from misrepresenting mortgage bonds they sold during the housing bubble according to "the new york times." according to the report, the targets of the lawsuit include goldman sachs, jpmorgan chase and bank of america. the lawsuits will argue that the banks failed to look into the mortgages enough and represented the securities as safer investments than they actually were. new hampshire republican party chairman jack kemp announced last night that he is resigning. his announcement came just before the executive committee was expected to remove him as chairman. kim bell had come under fire from what we called the party establishment. in a new study about firefighters who worked at ground zero in 2001 says they

were 19% more likely to develop cancer than firefighters who were not there. the study which included nearly 10,000 new york firefighters is the strongest evidence yet linking cancer with work at ground zero following 9/11. heavy rains prompted new flash flood warnings in vermont, the very last thing residents needed as they try to put their towns back together after hurricane irene. nbc's ron mott is in woodstock, vermont, with the latest. >> reporter: good to see you on the mound here in relief for chuck todd on this friday. fortunately we've got a clear sky today. yesterday it started raining. officials were very concerned about the roads that got washed out on sunday and monday getting further erosion, but that apparently did not happen. last night the rain tapered off toward the end of the evening. we're in woodstock. there is no drinking water in this entire town. it's a beautiful, beautiful town in southern vermont. the power situation is sort of iffy. most people have it. some buildings have been damaged

and those buildings are without power. the big issue in woodstock is the drinking water. across vermont, power issues are down to about 8,000 or 9,000 or so. that's better than it was on sunday. the main concern for folks is making sure they can get their emergency needs met which is what they're doing here, volunteer effort taking place at woodstock elementary, getting food and water and things like that to people. the main issue is to get those roads reopened in some form of fashion that's bays going to be quite the challenge for folks going forward. so many sections of roads across southern vermont that were washed away on sunday, chris. >> ron, thanks for that report from vermont. breaking now, we've mentioned repeatedly this morning about the odd jobs report, zero jobs created in the month of august. 9.1% unemployment still steady, same from july. the markets appear to be reacting, doum pling down over 130 points. obviously we'll be watching this throughout the day, not a good -- almost 200 points now,

not a good morning yet for president obama or for frankly the economy in general. anyone who is sought of work or looking for work. if you're running for president, labor day weekend is anything but a vacation. our tgi friday panel joins us for a preview of the marathon campaign weekend and why it's all about the tea party. still to come, the obama administration responds to the just-released august job numbers. gene sperling, direct tore of the national economic council will join us. first, the white house soup of the day, gumbo. feel like it's often gumbo and i only rarely guest host this show. you're watching "the daily rundown" only on msnbc. [ male announcer ] heard this one?

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about 13,000 feet down. daily flashback to this day in 1985 when researchers announced they had found the titanic, arguably the most famous shipwreck of all time. more than 1,500 people died when the luxury liner sank in 1912. the window is closing for sarah palin to get into the republican race for president. palin will soon be forced to end the will she or won't she speculation she's fueled for the better part of the last two years. but first, she'll stoke it a little longer, speaking to a tea party rally in iowa on saturday. mitt romney makes his first big public pitch to the tea party on sunday in new hampshire. on monday palin will speak to the same group stepping on romney's speech -- i'm sure that was accidental, and forcing a split screen with the declared candidates who gather hours later at a south carolina forum hosted by senator jim demint. let's bring our panel in. carol lee is a white house reporter for the "wall street journal," ma they yeah gold for

the los angeles tribute. and robert for comcast and host of role call tv. zero, very tough number for president obama. carol, you have spent a lot of time covering this president. what do they say and do? >> well, this adds a tremendous amount of additional pressure to his job speech next thursday. >> as if there wasn't a lot already. >> as if there wasn't a lot already. because there's been buildup for almost a month now. i think what ear grappling with is whether they goes bold and lays out a very clear sweeping vision for how to fix this situation or if he goes practical. so far we've seen -- >> those are his two options. >> so far we've seen in the way they strategized this, they followed the practical legislative route, meaning he is

going to talk about jobs and deficit reduction and try and get whatever stimulus he can packaged into some sort o -- >> policy reality meeting the political reality. >> matea, seconds after the jobs report we heard criticism from the republican candidates. mitt romney, today's disappointing report is further proof that president obama failed. he oversaw an economy that created zero jobs last month and that's unacceptable. good talking point if you're mitt romney or any of the other candidates. how much will they say this is bad, we're expecting mitt romney's own jobs speech. how much burden is there on them to say this is bad i've got something better. >> clearly for the incumbent, it's so much easier to be on the sidelines to say i have a better alternative and offer

generalities and see how those get evaluated. really the pressure is on president obama. i think that's what made this inside the beltway squabble about when the speech is going to be even more unfortunate. if anything, it showed how pie sonned the relationship is between the president and republicans. >> they can't even agree on the day to hold the speech. i want to play a little sound we have from mitt romney from this morning talking about the jobs report. >> i don't know if you saw the news this morning. there were no new jobs created last month. no new jobs. four more years of the same extremely misguided policies could be disastrous. career politicians got us into this mess and career politicians won't get us out. >> interesting that career politicians, a/k/a perry. >> exactly. >> focus primarily on president obama there, really strong language from mitt romney. disaster, failure. is that what the republican

party wants to hear right now? is that a winning message? >> i don't know if it's a winning message but it definitely resonates. here is why, remember. two things, then president elect obama said if, in fact, the unemployment rate does not come down in 2012, i am held accountable. those are his words, not the republicans' words. number two, when you take a look at perry or romney, they have the benefit of running as a challenger. they can throw anything they want at the wall and don't have the responsible. also to go back to your original point, chris. president obama's overall disposition is to go to the center. he wants to be bipartisan. that's where he feels much at home with. his liberal left, they don't want him to go there. what he's got to do. he's got to pivot quickly to say, look, am i going to run to the center and be like a bill clinton in 1996 or am i going to run to the left? he has to make that decision. >> that decision may come in the jobs speech. we'll be back with all three of you shortly. first, let's get to trivia time, a favorite of mine. which u.s. president once owned

a haberdashery. >> this is the worst looking hat i ever saw. you buy a hat like this, i bet you get a free bowl of soup. >> a free bowl of soup indeed? the answer, harry truman. truman and a friend owned a men's clothing store also known as a haberdashery in kansas city, missouri from 1919 to 1922. fascinating. you learn something new every day. we'll be right back with gene sperling. you're watching "the daily rundown" only on msnbc. we're centurylink...a new kind of broadband company committed to providing honest, personal service from real people... 5-year price-lock guarantees... consistently fast speeds... and more ways to customize your technology.

today's jobs report comes less than a week before the president is set to offer his plan to get more americans working again. how might this latest report impact the president's plan? gene sperling is the director of the national economic council. gene, thanks for joining us. let's get immediately your reaction to these numbers?

zero jobs gained or created in the month of august. >> there is no question we need faster growth overall in the economy, stronger job growth to get the kind of recovery this president wants to get americans back to work. this is why the president well before this job announcement had his economic team working on a very significant proposal to get growth and jobs going. that's why before this announcement he had already set a national speech on thursday too lay out what we need to do immediately to get this economy going and the recovery taking hold and why he will be asking everyone in washington to put the economy and workers ahead of partisanship and politics. and if people do not like each and every aspect of the president's program, i hope there will at least be a sense of bipartisanship that we've got to find something that works,

that can work to get this kind of job growth that we need going again. >> gene, you mentioned the president's speech next thursday. how much was he waiting in terms of proposals to see what came out today, if 00,000 jobs were created. does he say something different than what we're going to hear? has this been in motion for a while and the president and you guys expected something roughly equivalent to the zero jobs created that we saw today? >> this announcement does not largely impact our view of what was needed. on one hand, we have seen over a million private sector jobs created in 2011. that is a quicker creation of private sector jobs than we saw after the last recovery. but even before this announcement, the president knew that we still needed to do more in the short-term. we need a long-term plan that invests in our future, that

creates fiscal certainty. but a key part of that plan is also taking meaningfully significant efforts to rebuild -- put people to work rebuilding our country, offering tax cuts to workers and to small businesses hiring americans and a real strategy for dealing with the long-term unemployed. the president felt this was very important and made very clear we were going to do this long before this report. certainly this report was not what anybody would like to like. without the verizon strike, we probably would have seen over 60,000 privatezo6y,5v+ created. but even then, that is not nearly the type of job growth this president feels we need to get workers back, to get the kind of recovery we as the people need. >> gene, the president i assume is going to have on to make a forceful case to congressmen on why what he's going to propose is necessary. how much does this ee rose the

political foundation that he's standing on, allowing the republicans to simply say we've listened to you, we've tried that, now we need something new? >> exactly the opposite. the president inherited an economy that we now know was falling 8.9% in the fourth quarter of 2008. independent analysts found that the president moving forward meant the difference of about 8 million jobs in 2010 and up to 3 million jobs in the second quarter of this year. and what the president was fighting for, working his2plñ that's what we need. we need a meaningful economic action now to get the economy going. at the same time, we need greater certainty about our long-term future, both in terms of fiscal soundness and our commitment to be willing to compete with china the na and

others by investing in our future. and i think this only validates that we need to put real, meaningful bipartisan action on the economy ahead of the politics and partisanship that is holding us back. and the uncertainty and the division we saw over the summer, unquestionable, was a negative drag on the economy. and i would note that this survey was taken was the week of august 12th, a week where we saw the stock market as volatile as it's ever been, largely based on uncertainty about the dysfunctionlty of government or doubts of government both in europe and the united states which could have been much stronger had we come together as the president asked for and had a more significant economic package over the summer. and, again, you mentioned uncertainty, but we're heading into a fall and there's a lot of

uncertainty about that. how will the president say this has to get done, we want a long-term deal? >> you know, this president could not be more clear or have been more clear. we need a long-term strategy that requires bipartisanship on fiscal soundness and he's been very clear. that requires everybody to take on the sacred cow, we have to have a bipartisan plan compromised. but he's been clear that we have to rem inherited a very, very serious economic hole from the worst recession since the great depression. it didn't happen overnight. we're not going to get out of it overnight. and it is not time to get to inaction and politics. we need meaningful economic measures in the short-term. even though we've created a million private sector jobs in year, that is not enough. the president has never thought

that was strong enough for job growth and that's why he's going to put forward a very significant package that is deserving of bipartisan support and i think you will find independent analysts suggesting if it is passed, it will have a meaningful impact on both growth and job creation over the next year. >> gene sperling, thank you for your time. >> thank you. >> let's bring back our panel. let's start with robert. you heard what gene sperling had to say. a lot of uncertainty is the reason fort jobs report. your reaction? >> the question american people arex#(/ñ going to ask themselve your best good enough? every four years, the president gets a progress report. next year, we'll see if the president is able to stand in front of the voters and say my best is the best i can do. >> and carol, you heard gene say we need to suck it up and put the political concerns aside. we all know that's unlikely to happen.

>> they're setting up the one who is putting policy before politics. they know he's going to be a political fight and what they're going to get passed is much smaller than what he actually wants. so it's comparing what obama would want to do if he could do. >> this august has been notoriously bad for this president. is this the worst one of his presidency? i'm grandfathering in this jobs report. >> part of the things, it clearly is probably not a month he's going to look back on fondly. i think that the strategy we heard gene sperling talk about, partisanship and rising above it, this is something this white house has talked about over and over again. but the question is, that's only going to go so far, i think. as americans, if we don't get something passed, there's only so much you can do. >> and it gets back to are you better off four years ago than where you were today. >> robert, shameless plug, go. >> 9:30, east streak.

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